TEN major overseas developers with a strong presence on the Chinese mainland have seen their revenues grow at an average 30 percent over the past three years, an industry report released recently by the China Real Estate Top 10 Research showed.
Chinese mainland assets owned by the top 10 real estate companies expanded by an average 25 percent between 2004 and 2006, the report said, indicating a rapidly growing portfolio by the overseas developers.
Among the top 10, seven are listed in Hong Kong and the rest are traded in Singapore. They include Shimao Group (HK), New World China Land (HK), CapitaLand Limited (Singapore), Hutchison Whampoa Properties (HK), Yanlord Land Group (Singapore), Cheung Kong (Holdings) Limited (HK), Sun Hung Kai Properties Co Ltd (HK) and Keppel Land (Singapore).
Last year, the average revenue of the top 10 developers exceeded three billion yuan (US$384.6 million), with income from property management accounting for about 10 percent of the total.
The report also showed that by the end of last year, the top 10 developers had a total of 219 projects on the Chinese mainland, either completed or under construction. They comprised 43 percent residential projects, 39 percent commercial and office developments and the balance are hotel properties.
On average the top 10 companies have expanded their operations into 11 cities across the country, with Shanghai, Beijing, Tianjin, Guangzhou and Chengdu being the five most popular locations.
Meanwhile, the report has found that sufficient land stock by the overseas developers also indicated their long term confidence and commitment to the Chinese mainland property market. According to the report, land inventory by the top 10 companies has reached an average 8.2 million square meters by the end of 2006, with New World taking the lead at 24.6 million square meters.
The report also predicted that the overseas players will continue to boost their investment on the Chinese mainland and further expand their land stock.
Source:佚名